More Africa NewsMaroc Telecom reports a 1.6% decrease in revenues in Q1 2022

April 26, 2022by myles0

Maroc Telecom (IAM) has published its financial results for the three months ended 31 March 2022, reporting a 1.6% decrease in revenues from MAD8.914 billion (USD902 million) to MAD8.770 billion, attributed to a 2.7% drop in revenues generated by the group’s domestic unit, which was partly offset by growth in its Moov Africa international units. The telco’s adjusted EBITDA remained largely flat at MAD4.519 billion, mainly due to a 2.2% decline in pre-tax earnings from domestic operations, which was partly offset by a 0.9% increase in its subsidiaries’ EBITDA. IAM’s consolidated earnings from operations reached MAD2.815 billion in Q1 2022, a 2.5% increase y-o-y, while the adjusted group’s share of net income was up 2.5% when compared to 1Q21. CAPEX excluding frequencies and licences amounted to MAD1.137 billion at the end of March 2022, up by 172.0% y-o-y.

In operational terms, the group reported annualised growth of 3.6% for its consolidated subscription base, with the total standing at nearly 76 million at end-March 2022. In Morocco, mobile subscriptions marginally increased by 2.8% y-o-y to reach 19.867 million, up from 19.335 million in March 2021; the telco’s 3G/4G user base passed 10.287 million, while broadband subscriptions decreased by 1.6% y-o-y to 1.723 million. In Mauritania, mobile accesses increased by 13.7% to 3.031 million, while Chad saw a sizeable 11.6% y-o-y rise in mobile subscriptions to 5.318 million at 31 March. Furthermore, mobile subscription growth was also reported in the Central African Republic (213,000, up 11.1%), Burkina Faso (10.637 million, 9.6%), Benin (5.261 million, 9.3%), Niger (3.202 million, 5.0%) and Cote d’Ivoire (10.727 million, 6.5%), while Togo, Mali and Gabon reported annual declines of 18.3% (to 2.601 million subscriptions), 3.2% (9.263 million) and 3.3% (1.533 million) respectively.

Source: Commsupdate

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